MENTORS
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple
No Result
View All Result
  • Login
  • Register
MENTORS
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple
No Result
View All Result
MENTORS
No Result
View All Result

How to manage your emotions in Trading and Let Your Winners Run for Bigger Profits

Dawn Wells by Dawn Wells
December 21, 2022
in News
How to manage your emotions in Trading and Let Your Winners Run for Bigger Profits
Share on FacebookShare on TwitterShare on LinkedIn

In day trading, our nature dictates that we are more likely to let our losers run, in order to avoid taking a loss, and cut our profits short in order to avoid losing the small gain we have. Today we talk to sophisticated investor and day trader Lyss Roberts for a few tips to help you let your winners run:

  • Set clear profit goals: Determine the level at which you want to take profits and stick to it. This will help you avoid the temptation to sell too early.
  • Walk away from the screen and have a short break, I would get some fresh air, go in the balcony, have some tea, walk around and stretch the body. it will allow you to step away from the constant stream of market activity and give your minds and bodies a rest.However, it’s important to note that taking breaks does not necessarily mean completely disconnecting from the markets. Day traders should have a plan in place for managing and monitoring any open positions, even when they are away from the screens. This may include setting stop-loss orders or using other risk management techniques to protect against significant losses.
  • Do a 50 50 split and close half of that winning position. When you start seeing profits, excitements and emotions will kick in, what I usually do is take a portion off the table and realise 20%-50% of the profits. After locking in a portion of the profits will give us a boost of confidence and you won’t be as emotional as you would be by holding full position.
  • Use stop-loss orders: These orders automatically sell your position if it reaches a certain level of loss. This can help protect against significant losses and give you the confidence to let your winners run.
  • Use trailing stop orders: These orders allow you to set a stop-loss order that adjusts as the price moves in your favor. For example, if you set a trailing stop of 10% and the price moves up 20%, the stop-loss order will follow the price, protecting 10% of the profit.
  • Keep an eye on the overall trend: I usually have the daily chart up as well as shorter time frames to keep an eye on the big picture trends.
  • Manage your risk: It’s important to have a plan in place for managing your risk. This may include setting strict risk-to-reward ratios or using position sizing to control the amount of capital you have at risk.

Remember, the key to letting your winners run is discipline and the ability to control your emotions. It’s important to have a plan in place and stick to it, even when things get volatile.

Official site: https://www.lyssroberts.com/

Instagram: https://www.instagram.com/lyssbl1ss/

Dawn Wells

Dawn Wells

I am Dawn Wells, a mom and a full time blogger. I am contributor of many well known publications including Disruptmagazine, Thrive Global etc.

Related Posts

edit post
Rainbow is the New Black
News

Rainbow is the New Black

Each of us yearns to find people with whom we can just be ourselves. As much as we long...

by Dawn Wells
May 27, 2023
250
edit post
Building Bridges, Breaking Chains: David Hoovler’s Efforts to Forge a Fairer Criminal Justice System
News

Building Bridges, Breaking Chains: David Hoovler’s Efforts to Forge a Fairer Criminal Justice System

For many of us, the criminal justice system is something we may only interact with from a distance, through...

by Dawn Wells
May 26, 2023
249
edit post
The Dark Shadows of Mob Justice: Unveiling Midnight Gavel of Judge Lynch by Scott Rehmann
News

The Dark Shadows of Mob Justice: Unveiling Midnight Gavel of Judge Lynch by Scott Rehmann

Among Minnesota’s criminal records lies an unsolved account that unravels a chilling chapter from the state’s past. Midnight Gavel of...

by Dawn Wells
May 26, 2023
260
edit post
Wellness
Health

Unlocking Your Best Self: The Power of Personalized Wellness with LyfeFuel

a personalized approach to wellness is the only sustainable option because it recognizes that each individual is unique.

by Lewis Schenk
May 26, 2023
253
Next Post
edit post

Learn Geometric Art From The Best- Clifford Singer

Popular posts

  • How to Use Instagram to Secure a Modeling Agency – Latitude Talent
  • How Paul Sterriker is Transforming Property Development through Environmental Art
  • The Artistic Journey of Wlodzimierz Pietraszko and His Bonsai Empire
  • Prince Kimera: A Prince among Men, A Legend Among Royalty
  • The Next League Program: Your Ultimate Guide to Applying for the EB1-A Green Card

Popular Tags

American Benefits brand Business business tips career coach covid-19 digital marketing economy employee Entrepreneur entrepreneurship featured finance Health inflation influencer investment Investor job leadership marketing Medical School mentor mentorship money News pandemic personal development plan recession Residency retirement small business social media sponsored startup strategy success tax technology tips work workplace
ADVERTISEMENT
  • About
  • Free Mentorship
  • Show Your Support
  • Become a Contributor
  • Apply As Guest
  • Listen on Apple
  • Listen on Spotify
Mentors Collective Success Magazine

Owned by Otter Love LLC

No Result
View All Result
  • News
  • Business
  • Self Growth
  • Mentors Collective Podcast
    • Apply As Guest
    • Listen on Spotify
    • Listen on Apple

Owned by Otter Love LLC

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version